MTN has paid N110bn fine so far – NCC

MTN Nigeria Communications Commission has paid a total of N110bn into the coffers of the Federal Government out of the N330bn imposed on the telecommunications company by the Nigerian Communications Commission.

The Executive Vice Chairman, NCC, Prof. Umar Danbatta, disclosed this at a workshop on Code of Corporate Governance organised by the regulatory commission in Kano on Thursday.

He also stated that the commission was rejigging its regulatory activities to ensure that telecommunications consumers get value for their money.

The NCC had in October 2015 imposed a fine of N1.04tn on MTN for irregular registration of subscribers. However, after prolonged negotiation with both the regulatory agency and the Federal Government, the company had the fine reduced to N330bn.